CenterRun Secures $12 Million in Second Round Funding.Business Editors REDWOOD CITY Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif.--(BUSINESS WIRE)--June 11, 2002 Crosslink Capital's Vladimir Jacimovic Brings Extensive Financial and Enterprise Software Market Expertise to Board of Directors CenterRun, Inc., a leading provider of software to automate the configuration and deployment of web applications in enterprise data centers, today announced that it has secured $12 million in its second round of funding. New investor Crosslink Capital led the round with participation from Needham Capital Partners and existing investor Sequoia Capital Sequoia Capital is a venture capital firm founded by Don Valentine in 1972. The firm's partners include Don Valentine, Pierre Lamond, Michael Moritz, Doug Leone, Mike Goguen, Mark Stevens, Jim Goetz, Sameer Gandhi, Roelof Botha, and Mark Kvamme. . In conjunction with the investment, Vladimir Jacimovic, Managing Director of Crosslink Capital, will join CenterRun's Board of Directors. Current members include Michael Moritz Michael Moritz (born Cardiff, Wales, 1954) is a venture capitalist with Sequoia Capital in Menlo Park, California in the Silicon Valley, and a former member of the board of directors of Google inc. of Sequoia Capital; John Dillon
CenterRun's Market The proliferation of multi-tier web applications has created unprecedented complexity in the enterprise data center. Web applications are constructed with custom code, custom content and software from multiple vendors. They reside on multiple servers that are deployed, configured and maintained manually and separately, creating constant challenges for IT. CenterRun bridges the gap between application development and management, automating the error-prone and tedious tasks of configuring and deploying new applications and upgrades. The Company's products ultimately optimize resources and reduce application failures and the resulting system downtime. "We have followed this market's development for some time, and have a deep appreciation for the problems caused by increasing application complexity in corporate data centers," said Vladimir Jacimovic, Managing Director, Crosslink Capital. "CenterRun's technology allows companies to maximize their IT investment and leverage staff resources strategically, providing a compelling ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). . We believe CenterRun has the potential to transform the way enterprises manage their applications." Primed for Growth "Software that increases the reliability and productivity of Internet data centers has a direct impact on the bottom line", said Michael Moritz, Partner, Sequoia Capital. "Our initial investment helped CenterRun build a comprehensive platform and sign its early customers. We look forward to supporting continued innovation and aggressive customer acquisition." The completion of this round of funding brings the total investment in CenterRun to over $19 million. The Company will use the additional funds to support continued enhancement of its product offering and to further expand its sales and marketing operations. "We were very pleased with the market reception for this round and the caliber of investors we were able to attract," said Aaref Hilaly, President, CEO, and Co-founder, CenterRun, Inc. "Crosslink brings significant domain expertise and a valuable fresh perspective to the board. Needham and Sequoia both boast unparalleled track records in backing and advising industry leaders." CenterRun's product automates the configuration and deployment of web applications in enterprise data centers from a central console. Its approach is uniquely Application Aware. It goes beyond just distributing files across a network; it understands the variety of components that comprise web applications and their inter-dependencies to make end-to-end automation of configuration and deployment possible. As a result, CenterRun makes web application rollouts, changes and upgrades faster, simpler and more reliable. The product is currently being implemented in select Global 2000 customers. About CenterRun Based in Redwood City, California Redwood City is a suburb located on the San Francisco Peninsula in the San Francisco Bay Area of California. Redwood City is the county seat of San Mateo County. As of the 2005 census, the city had a total population of 76,000. , CenterRun Inc. is a privately held provider of productivity applications for the enterprise data center. CenterRun gives data center operations assurance that web application deployments are done correctly, providing greater control, improved visibility, increased productivity and enforced best practices. About Crosslink Capital Since 1989, Crosslink Capital has invested in emerging technology companies. Currently its venture investing venture investing The acquiring of a stake in a start-up company by a brokerage firm or analyst by obtaining discounted, pre-IPO shares. Critics claim venture investing causes analysts to have a vested interest in seeing a stock appreciate in value and so activities are focused on the software, core technology and semiconductor industries. Crosslink invests in very early, seed stage financings all the way through later-stage private opportunities and into the public market. This strategy allows Crosslink to remain a long-term partner to its portfolio companies. Crosslink Capital was the first venture capital firm in the U.S. to integrate public and private technology investing; today the firm manages nearly $1 billion. About Needham Capital Partners Founded in 1985 to serve emerging growth companies and their institutional investors, Needham Capital Partners is a full-service investment bank that is national in scope offering corporate finance, investment analysis, trading and sales services. Through Needham Emerging Growth Partners, L.P., and Needham Capital Partners L.P., we provide select clients with investment management services. The Needham Growth Fund, a registered, no-load, open-end mutual fund, provides investment opportunities for the general public. We have grown very rapidly over the past 14 years, and today we are recognized as a leading factor in our chosen fields. About Sequoia Capital Since 1972, Sequoia Capital has provided startup venture capital for very smart people who want to turn ideas into companies. As the "Entrepreneurs Behind the Entrepreneurs," Sequoia Capital's Partners have worked with innovators such as Sandy Lerner and Len Bozack of Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. , Jerry Yang
Jerry Chih-Yuan Yang (Traditional Chinese: 楊致遠; Simplified Chinese: and David Filo David Filo (born 1966 in Wisconsin) is the co-founder of Yahoo! with Jerry Yang. David Filo, at age 6, moved to Moss Bluff, Louisiana, a suburb of Lake Charles, Louisiana. of Yahoo!, Gaurav Garg of Redback Networks Redback Networks is a telecommunications equipment company. History Redback Networks was founded in August, 1996. Redback is an ERICSSON subsidiary since the beginning of 2007 (was previously traded on NASDAQ under the symbol RBAK). , Larry Page For the music producer/manager, see . Lawrence Edward "Larry" Page (born March 26 1973 in Lansing, Michigan) is an American entrepreneur who co-founded the Google internet search engine, now Google Inc., with Sergey Brin. and Sergey Brin Sergey Brin (Russian: Сергей Михайлович Брин of Google, Dan Warmenhoven of Network Appliance, T.J. Rodgers of Cypress Semiconductor, Lou Tomasetta of Vitesse Semiconductor, Steve Jobs of Apple Computer and Larry Ellison of Oracle. The companies organized by Sequoia Capital now account for about 10% of the value of NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on . To learn more about Sequoia Capital visit www.sequoiacap.com. CenterRun and the CenterRun logo are trademarks of CenterRun, Inc. Other product and company names belong to their respective owners. |
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